Washoe County Cobblestone #3188

Endowment Fund

The award contract establishes the Washoe Behavioral Health Endowment Fund, a designated endowment fund created by Washoe County (the Donor) in partnership with the Community Foundation of Northern Nevada (the Foundation), a Nevada non-profit corporation. The Fund is intended to support the operations and maintenance of the Washoe Behavioral Health Center. The Foundation manages, invests, and reinvests the Fund's assets according to its investment policy and charges an annual administrative fee of 0.50% and an investment fee of 0.25% based on the average daily balance. Distributions from the Fund, up to 4.5% annually, are made to Washoe County's special revenue fund for Behavioral Health Operations and Maintenance, with excess funds potentially transferred to the Regional Behavioral Health Initiatives Fund. The Fund is governed by the Foundation's Articles of Incorporation and Bylaws and complies with relevant IRS regulations. The Washoe County Board of Commissioners may move the Fund to another foundation or investment manager with 30 days' notice. The Fund is administered under Nevada state law. No specific products, part numbers, or quantities are awarded; rather, this is a financial endowment agreement supporting behavioral health services in Washoe County.

Description

Behavioral Health Initiatives Endowment Fund approved by BCC 12/09/2025 - TMP-10632 Contact Liz Phillips ephillips@washoecounty.gov LATCF Funds

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